Authors Posts by Les Calvert

Les Calvert

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Les Calvert is the owner and CEO of many internet property and travel related websites including this overseaspropertymall.comand he regularly writes news and articles for his websites, trade magazines and newspapers.

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Brandenburg Gate in Berlin, Germany

A leading real-estate agent reveals that Berlin’s lettings market which is already in full swing is expected to climb up further due to the rise in population. Property investors from abroad are looking at banking on the current situation in the lettings market, adds the agent. Despite the rise in population, the lettings market has not been able to keep up with the property demand in Berlin. Statistics reveal that Berlin’s population picked up by nearly 100,000 in the last two years while only a meager 10,000 new apartments have been raised to accommodate the demand.

Supply shortage sparks from population rise

Berlin, Germany’s biggest city, boasts of a population that is in excess of 3.5 million. The Berlin Federal Statistical Office claims that the resident numbers rose by nearly 47,800 annually, by 2013 end. The Urban developments Concept Berlin 2030 forecasts that the population will soon climb up by another 250,000. Real-estate analysts have been concerned about how efficiently the current supply can suffice the demand in the lettings market.

Knight Knox International claims that the home-ownership rates in Berlin stand at 17 percent and a majority of residents rely on renting properties. Berlin-Brandenburg Housing Association board-member, Maren Kern, says that the rise in demand in the renting sector can only be countered by new constructions.

Berlin’s property market garners attention of overseas investors

A leading property agent says that many inquiries have been coming in from various investors about Berlin-based properties in the recent past. The investor appetite stretches to as far as Kuwait, the UK or Macau. While the inrush cannot be attributed to any country or region specifically, it is predominantly wide spread and genuine, claims the agent. Potential investors are typically on the lookout for properties with impressive yields and ROI, explains the agent.

Berlin outshines other European real-estate markets

In wake of the growing investor interest, property prices in Berlin have shot up by nearly 17 percent during the past 12 months. Furthermore, property prices have shown an appreciable rise of 31 percent during the five year period as of July 2013. The asking price of one bedroom apartments alone have increased by 53 percent in the past three years. The low rental rates is another highlight of Berlin’s emerging property market. Berlin’s rental charges as of 2013 stood at €7.90 per square meter, while they were slightly steeper in Hamburg and Munich with €10.00 and €12.50 respectively.

Despite showing impressive leaps in apartment prices, Berlin still doesn’t fare as well as other European property markets price-wise. Berlin’s apartment pricing standards rank low when compared to Paris or London. Apartments are sold at average rates of €2,000 per square meter in Berlin while the same would go at thrice the value in Paris or over three-quarters more in London.

In fact, PWC claims that the low prices in the Berlin property market has put it in the top spot for investors who are looking at purchasing residential assets, according to its Emerging Real-Estate Trends 2013 report. Berlin’s outstanding performance in the investor market can be also be accounted to the fact that it has ample growth opportunities.

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berlin

50,000 new residents moved to Berlin last year, and with over 200,000 more young professionals set to join this burgeoning populace by 2030, this boom is set to trigger surging growth within the city’s rental market.

With homeownership at just 17%, renting is the norm in Berlin, meaning that the majority of these new residents are set to add to the already, incredibly high number of renters in the city.

The potential of this surge was recognised by investors last year, as Berlin became the third most active European real estate market between Q1 and Q3 2013, receiving investment of over €4 billion.

Berlin has also toppled Munich as Germany’s most attractive area for investment. Last year, 96,000 residential units were sold within the historic city, accounting for 44% of all real-estate transactions in the German property market.

This surge in real-estate investment has facilitated growth within Berlin’s wider economy. The start of 2014 saw the economic index of the Berlin-Brandenburg Chamber of Industry and Commerce reach its highest level since 2007, while Oxford Economics predicts that this growth is not set to slow any time soon, forecasting growth of 1.4% throughout the rest of the year.

As investor interest compounds, prices are inevitably rising in the Berlin market. According to ImmoWelt.de, asking prices for one bedroom flats have risen 53% in three years, while residential property prices have jumped 17% in the last 12 months and 31% in the last five years, ending July 2013.

However, this has not served to dampen investor appetite as prices for apartments in Berlin still remain relatively low, selling at an average of €2,000 per sq. metre, a third less than the existing rate in Paris and less than a quarter of the price in London.

These low prices have seen Berlin ranked as the number one choice for residential investment in the “Emerging Trends in Real Estate 2013” survey by PWC, because of the opportunities for growth within the market.

Attractively, rents also remain relatively low, allowing for opportunities of growth in the rental market.  At the end of 2013, the average rent in Berlin stood at €7.90 per sq. m lower than rents in Hamburg and Munich, where they stood at €10.00 and €12.50 respectively, outlining the opportunities for growth in Berlin.

Berlin’s emergence as an area for investment is a result of it being recognised as one of the world’s fastest growing cities.

This new-found status can be seen in the city’s surging tourism figures. Berlin hosted over 26 million overnight guests last year, according to its tourism office, making it not only Europe’s third most popular city for real-estate investment, but also Europe’s number three city destination.

Leaders in worldwide property investments, Knight Knox International, were quick to respond to these changing market trends in Berlin, launching a host of developments in Berlin at the start of 2014.

One of these developments is situated in the artistic region of Kaiserdamm, while two more developments are located in the district of Mitte – a popular destination for new residents to the city, which sees annual population increases of 3%.

The developments include; Mitte Living which is set to comprise of 128 residential apartments upon completion, Shorhnhorststrasse, which is set to comprise of 118 high-end one, two and three bedroom apartments, and Kaiserdamm, which will contain 31 residential units, two commercial units and 20 underground parking spaces.

The Shorhnhorststrasse luxury apartments are available from £305,663; Mitte Living apartments are available from £187,065 and Kaiserdamm apartments from £149,990.

For more information please contact a Knight Knox International property consultant on 0161 772 1370.

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Igloo

Standing 180 miles out of Anchorage on the George Park Highway is a former luxury hotel, currently on sale for $300, 000 (£217, 000), and its current owner sees it being converted into a restaurant or hotel by its buyer.

So far, so normal.  But there is a unique selling point to this building – or a unique not-selling point, depending on your point of view.

It’s an 80-foot rubber igloo.

The structure, made of polyurethane stretched over a wooden frame, is only inspired by Inuit igloos, it’s not actually made of ice.  But the former Igloo City Hotel is likely to attract the more adventurous buyer.

The current owner, Brad Fisher, bought it in 1996 and thinks it has great potential (for someone else), pointing to its enviable location, passing trade and great views.  It dates to the 1970s when it was built as a motorway rest stop.  More recent years have seen it become a tourist attraction in its own right, as the fascination with the macabre meets the lure of the kitch…

The process of conversion could be expensive, though, as the Igloo Hotel is authentically freezing: there’s no electricity or heat.  Not only is there no electricity inside the building: there’s none nearby.  To supply it, you’d need to build a new substation.

In fact, the Igloo has always been a bit of a white elephant.  It never really opened in the 1970s, and the inside remains structurally incomplete as well as lacking in that Alaskan essential, heating.  It’s been extensively vandalised too, including having fireworks set off inside it.

As much as it sounds like it’s dead in the water, there actually is some method in Bob Fisher’s madness.

The Igloo has stunning views of snowy mountains and beautiful alpine meadows and is on the route out to the six-million-acre Denali National Park, home to the tallest mountain in North America and temporary accommodation to half a million tourists every year.  It’s a great area to see moose, wolves, beaver, wild foxes and grizzly bears.  It’s right next to prime snowmobiling and hiking territory.  And the hotel already has a loyal tourist following.  So yes, you could make something out of it.

You’d need deep pockets, though.  In addition to getting the building actually finished and attached to the grid, you’d need to spend an unknown amount on making sure it’s up to code, including some that didn’t exist when it was built.  The price seems a little steep for what is essentially half a rubber ball but it comes with 38 acres of prime Alaskan land, which is expensive, desirable and saleable.  A buyer might want to do on a larger scale what Mr. Fisher did – run a separate business on the land next to it.  Until 2005, Mr. Fisher operated hut rentals and a petrol station in the grounds of the hotel.  So maybe an enterprising, hiking and outdoors friendly business person could make the Igloo cool again. Fancy it?

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San Francisco

California’s housing market has been performing better than expected for well over six consecutive months and this April, the state saw home prices hit a 7-year high, according to the California Association of Realtors (CAR).  Both the median home price and home sales increased month on month.

Closed escrow sales of existing, single-family detached homes totalled 394, 070 in April, the seasonally adjusted annualized rate, said CAR.  That’s the figure that represents the total number of homes that would be sold in 2014 if sales throughout the year continue at April’s level, and adjusted to take account of seasonal factors that typically influence home sales.

The picture isn’t as simple as it looks at first.

April’s price was 11.6% higher than April 2013’s and April was the second consecutive month to see both year-on-year and month-on-month house price rises, while the statewide median price has risen year on year for the last 26 months.

Meanwhile, sales have risen month on month – but they’ve fallen hard year-on-year, while prices ride high.  April’s sales were up 7.4% from March’s 367, 020, but they’re down 7% from April 2013.

The median number of days it took to sell a single-family home fell to 33.8 days in April, a fall from the 35 days it took in March, but up from 27.9 days in April 2013.

‘With home prices increasing by double digits in 2013, many investors have decided to leave the market which is adversely affecting home sales as a whole,’ said CAR’s president, Kevin Brown.  ‘While the number of homes sold continued to decline form a year ago, the better-than-normal surge in sales activities in April is encouraging and could be an indication that we will see further improvements in the housing market in the next few months.’

Statewide, the median price of an existing single-family detached house rose 3.2% to $449, 360 in April compared with March, reaching its highest level since December 2007, pre-crash.

Various factors can affect median sales price – the ‘halfway point’ in the house price continuum, at which half of houses sold for more and half for less.  Types of homes can make a difference as well as a general shift in the market.  However, an effect as prolonged and large as this is likely to be a real shift in the market.

The effects of housing inventory and mortgage rates should also be factored in.  Housing inventory remained relatively tight in April, with an Unsold Inventory (UI) index of 3.5, down from March’s 4 but up from April 2013’s 2.8.  The UI measures how many months it would take to sell all the homes on the market at the current rate of sales.  April’s mortgage rate remained flat, with minor variation form march but up 0.89% from the previous year, according to Freddie Mac.

‘Looking forward, it is likely that we will see a more moderate level of price increase throughout the rest of the year, and further improvements in sales in the spring home buying season,’ said Leslie Appleton-Young, CAR’s vice president and chief economist.  ‘Increasing home prices, relatively higher interest rates, and tight lending standards, however, will continue to present affordability issues.  Primary home buyers may no longer have to compete with investors in 2014, but instead they need to worry about increased borrowing costs.’

Say hello to my little house: the grandiose tribute to poor taste and excess that housed the final hours of Tony Montana in the classic De Palma/Pacino flick ‘Scarface’ is on the market – after a clean-up and a facelift.

The opulent 10, 000 square foot property is surrounded by palm trees and Mediterranean gardens, and everything about it screams ‘Miami’ – so much so that a Miami house has run tours for years as the ‘Scarface mansion.’  In fact, though, the movie was shot on the other side of the country, in California’s Santa Barbara, where this 10-acre property is located on 631 Para Grande Lane.

scarface mansion1

The mansion was built for James Waldron Gillespie, and the design deliberately evokes classical Greek and Roman sculpture throughout.  Designed by architect Bertram Goodhue in 1906, the property even has a name: ‘El Fureidis,’ meaning, ‘Tropical Paradise,’ and includes 5 bedrooms, 9 bathrooms and details including painted ceilings with gold leaf trim, tiled rooms and a unique pool  – very recognizeable from a certain angle – complete with fountains.

scarface mansion-2

The ostentatious poor taste that characterised the mansion in the film was added for characterization – the filmmakers thought that the home of Tony Montana should look crass and glitzy, so gold and statuary, including a gigantic pink neon globe bearing the legend,’ the world is yours!’ was added.  All that has been removed, though, leaving a home that’s certainly expensive but no longer looks cheap.

scarface mansion3

Now, the mansion looks stately and palladian, with a dignified neoclassical frontage, bright blue pools divided into quadrants  and an estate packed with palm trees and formal gardens.  Inside, the gigantic piles of illicit substances and terrifying firearms have long since been removed.  Instead, there are parquet floors, statement modern furniture seamlessly integrated with the antiques and spacious, high-ceilinged rooms.  The main ‘conversation room’ features an 18-foot-high dome ‘modelled after the church of St. John Lateran in Rome,’ according to the brochure copy.  The recent refit replaced old-fashioned appliances, particularly in the kitchen, without affecting the mostly original fittings and fixtures.

scarface mansion 7

One reason why such a large house has so (comparatively) few bedrooms is that the original design was aimed at producing a house to entertain in rather than a dormitory.  Rather than extra bedrooms, space was given over to patios, an interior courtyard, a rooftop terrace, verandas and Persian gardens.  Indoors, the barrel-vaulted ceilings might interest you – if not, there’s a view out over the Pacific Ocean from every room.

scarface mansion 15

The price tag keeps falling, too: the home was last on the market for $35m in 2008, before selling for an undisclosed amount – maybe just over $2m, maybe about $6m, depending on who you listen to – to Russian financier Sergey Grishin.  Now it’s relisted for more modest sums and there’s even a rental option.  You can rent the mansion for $30k a month.

All Images: The Santa Barbara, California mansion made infamous in the 1983 movie “Scarface” starring Al Pacino as Tony Montana, is for sale. Tour inside “El Fureidis,” which means “tropical paradise.”  Courtesy Village Properties/Tom Ploch

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Currency Update

Pound Sterling

The Pound fell against the majority of its peers yesterday after the Bank of England said that it was in no rush to raise interest rates and failed to revise its growth forecasts for the coming year as economists had expected. Positive unemployment data was overshadowed by disappointing wage growth figures. With a lack of UK data today we could see the Pound soften further if events elsewhere weigh upon the currency.

US Dollar

The US Dollar advanced to its best level in 3-weeks against the Pound yesterday after comments made by the Bank of England weighed upon the UK currency. The ‘Greenback’ found some support from data which showed that applications for mortgages increased last week, easing some of the concern over the US housing market. Economists are expecting today’s US jobless claims, manufacturing and industrial production data to add to signs that the world’s largest economy is continuing its recovery.

The Euro

The Euro softened slightly against the Pound and US Dollar after data showed that growth in the French economy stalled in the first quarter of the year. The German economy meanwhile grew more than forecast highlighting the disparity between the Eurozone’s top two economies.  GDP data for the wider Eurozone as well as inflation data will be closely watched today as weakness in either could cause investors to raise their bets that the European Central Bank will introduce new stimulus measures at next month’s policy meeting.

Australian Dollar

The ‘Aussie’ edged higher against its peers as investors wait for today’s US data releases. A stagnant new car sales report had little impact on the currency. Official data showed that new car sales in Australia were flat last month.

New Zealand Dollar

The New Zealand Dollar remained firmer against several rivals despite the release of disappointing manufacturing data. Business New Zealand’s performance of manufacturing index dropped to 55.3 in April, down from the 58 recorded in March and well below forecasts for a rise to 58.4.

Canadian Dollar

The Canadian Dollar edged higher against several counterparts due to a rise in commodity prices and increased demand for perceived riskier assets. The price of crude oil, Canada’s biggest export, climbed to its highest level in three-weeks.

South African Rand

The Rand is little moved from yesterday’s levels as it remained supported by increased risk appetite. Continuing violence in the South African platinum mining belt and events in Ukraine could still weigh upon the Rand.

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After years of recession, it appears sunshine may finally be glimpsed through the rain in Spain as surging foreign investment looks set to fuel a recovery within the nation’s property market.

As one of the main tragedies of the Eurozone crisis, recovery seemed a distant dream for most Spaniards. However, last year saw foreign property purchases exceed €6bn for the first time since 2004, propelling the once doomed nation onto the brink of recovery.

This surge of foreign investors flooding back to the Spanish property market has positively impacted upon the country’s general economy, which grew by 0.6% in the last quarter of 2013 – the first time it has expanded in over six years.

This resurgence, however, is yet to take effect on house prices, which still continue to dip.

The price falls though are far slower than at the height of the recession, leading many experts to predict that the Spanish economy is set to bottom out, with the recession’s end seemingly in sight.

Home prices fell 7.2% on average in January 2014, 2% less than a month earlier and almost half last year’s 13.8% decline, while prices on the Mediterranean coastal resorts fell just 4.8%; a dramatic reduction from the 11.7% drop in December 2013.

Traditional foreign investment locations, Seville and Barcelona, even managed to see price hikes in January 2014, jumping 3% year-on-year, as a result of increased interest among foreign investors.

Foreign investment levels, in fact, rose throughout the country by as much as 9.8% last year, as interest levels in Spanish property soared for the first time in years.

Indeed, the latest Overseas Guides Company Quarterly Index reported a 37.8% year-on-year increase in foreign enquiries into Spanish property last year, as investors flocked back to the market.

This interest is set to remain consistently high within the coming months, with property experts Knight Frank claiming to have experienced a 29% increase in searches for properties in Spain in Q1 2014, compared to the same period last year.

Banks burdened with re-possessed real estate following the crash are also experiencing surging interest levels. Spanish bank, Sareb has sold an average of 60 properties daily since the beginning of the year, doubling their company target of selling 30 a day in 2014.

The exchange rate has been cited as a key factor in this revival. The pound dramatically increased in strength against the euro during Q3 2013, from £1/€1.141 at the end of July to over £1/€1.19 by the end of the year.

This increasing strength of currencies, like the pound, against the euro led investors to purchase scores of Spanish property last year, after seeing how much more they could get for their money.

Another factor behind this resurgence has been the new golden visa scheme, which grants automatic residency to non-European citizens investing €500,000 or more in Spanish property.

Savills claim a similar scheme in Portugal succeeded in attracting Chinese investors and, although no figures have been published yet to assess the impact of the deal, estate agents across the country are reporting surging interest levels from the Far East, Middle East and Russia as a result

UK-based property firm Knight Knox International were quick to react to the positive changes in Spain.

The property investment company formed strong on-the-ground relationships in the country a number of years ago and were kept well-informed of the market changes in Spain.

In response to an increasing number of enquiries regarding investment in Spain, the firm promptly launched developments in the popular seaside resorts of Alicante and Marbella.

Their latest Spanish development, Reserva Marbella, was launched at the end of April. It is fully managed by VIME hotels and comprises of fully-furnished one bedroom apartments, which occupy a massive 69 square metres over two floors and have huge 32 square metres terraces.

The one bedroom duplexes are priced from €129,000 euros and the resort expects high occupancy rates throughout the year.

International Business Development Manager, Matthew Lavin, is Knight Knox International’s expert in the Spanish property market and believes the numerous enquiries he receives daily into Spanish property represent a positive change in investor sentiment towards the country.

Lavin commented: “Spain is always going to be a popular destination for overseas investors with 2014 presenting arguably the best time to invest.

“With historically low prices and a strengthening GBP, buyers can remain confident of mid to long term returns, running alongside the lifestyle benefits owning a property in the sun brings.”

A report by Spain’s society of property registrars shows that Spanish property remains the most popular among British investors, claiming Britons are responsible for more property purchases in Spain than any other country, accounting for 15% of all sales to overseas investors.

French investors purchase the second most Spanish property accounting for 10% of overseas investment, while Russians are the third keenest on acquiring Spanish property representing 9% of foreign investment.

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Crimean Property Prices Climb Up Even as Investor Sentiment in Russian Property Market Dips

A recently released report states that the investment sentiment in the commercial property market has picked up worldwide, during Q1 2014. While most European countries reported a rebounded investment sentiment, the Russian property market faced a depressed investor sentiment. Meanwhile, property prices in Crimea have shown a dramatic increase following Russia’s annexation.

Spanish, Portuguese and Irish real-estate markets bounce back while Russia makes sluggish recovery

While many European commercial property markets gained momentum in their recovery, some markets were still in the doldrums. Real estate markets in Netherlands and France reported stalled progress despite coming out of recession in the latter half of 2013. The downbeat trend in the Russian real-estate sector was prevalent in both investment and occupier markets. Analysts suggest that the looming recession, economic slowdown and political tension are to be blamed for the Russian real-estate market slump.

Meanwhile, Spanish, Portuguese and Irish property markets reported considerable improvements. Survey findings reveal that the transaction expectations in these markets are far higher than any other European property market. The optimistic outlook is expected to translate into an increase in investment transactions in the near future. The occupier market is anticipated to pick up pace as well, aided by the falling unemployment rates. Rental markets in Portugal and Spain may show price rises in a year’s time, although they are expected to remain stable in the coming term.

Crimean residential property market looks up

Following Russia’s annexation, Crimean residential properties have shown steep price hikes. General Director, Ruslan Burdeiny, of Monolit, a construction company, says that recreational facilities and apartments are facing a huge demand in the Crimean property market and their values are even beating the peaks reached in 2005 and 2007.

The prices have gone up by about 50-60 percent in the past two months, he adds. Construction giant Konsol-Stroi claims that the prices in the Crimean property market have shot up by nearly 20-50 percent in under two months. Director of Konsol-Stroi, Galina Kovalenko, says that the average prices have gone up from $ 1,000 to $ 1,500 per square meter.

Real-estate experts predict that the Crimean real-estate will see further increases in  property prices in the near future. It is anticipated that the markets will even outperform the Black Sea coastal region in the Krasodar area. The appreciated values in Crimean real estate are however not expected to remain steady in the long term. Burdeiny says that Russians drove many purchases in the Crimean market, pointing out that Crimean properties are priced at considerably lower rates when compared to Russia.

However, he says that appreciated values on Crimea can primarily be attributed to increasing construction material cost, aside from the fact that many developers have moved to Russia with hopes of finding higher wages. Dmitri Medvedev, the Prime Minister had announced plans in March that aimed at utilizing funds from the Federal Housing Assistance to cut down constructional costs in Crimea.

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foreign currency

Pound Sterling

On Monday the Pound was little moved against its major peers due to a lack of data releases. The only piece of data due for Sterling is the latest Lloyds employment confidence report, which is likely to have little impact upon the market. Traders will be looking ahead to Wednesday’s UK unemployment and inflation data. If unemployment falls further then we can expect Sterling to strengthen as more pressure will be placed upon the Bank of England to raise interest rates.

US Dollar

The US Dollar is holding steady against its peers as investors look ahead to this evening’s monthly US budget statement. A lack of other data is likely to leave the currency static throughout the session. Traders remain cautious following the weekend’s referendum victory for Pro-Russian separatists in Ukraine. The world will be watching to see how Kiev responds to a vote which it deems illegal.

The Euro

The Euro is trading close to a one-month low against the US Dollar and remains weaker against the Pound as investors await speeches by European Central Bank officials. The single currency remains under pressure after ECB President Mario Draghi said that the Central Bank could introduce monetary easing measures next month.

Australian Dollar

The ‘Aussie’ experienced little movement overnight despite the release of positive domestic business confidence data. The currency was unable to make gains as concerns over geopolitical tensions in Ukraine and a standoff between China and Vietnam dented demand for riskier assets.

 New Zealand Dollar

The New Zealand Dollar inched higher against its U.S. counterpart but was little moved against the Pound on Monday. Gains are expected to remain limited as investors exert caution amid ongoing Ukrainian concerns.

Canadian Dollar

The Canadian Dollar remains under pressure from last week’s dismal jobs data and weakened along with other higher –risk assets due to the situation in Ukraine.

 South African Rand

The Rand was holding its ground against several peers as the local session opened and is not far from last week’s five-month high against the US Dollar. Concerns over Ukraine are likely to soften the currency as investors grow averse to riskier assets. Investors will also be looking ahead to a mining report due out later in the week. The data will provide a good indication of what impact the four-month strike has had on the nation’s platinum mining sector.

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Villa in Dominican 1

One-of-a-kind Spanish style villa nestling in the hills above Cabrera on the green north coast. Beautiful mountain views behind and ocean views in front, with the trade winds creating a refreshing year-round breeze. The villa in as 300 sqm under cover consisting of 3 bedrooms, 2 bathrooms both with shower and bathtub and a double sized study/hobby room/4th bedroom.

Villa in Dominican 2

The gourmet kitchen is open plan to the huge living space and flows through French doors onto a massive wrap-around verandah.  The master suite upstairs has it’s own verandah on the ocean side and balcony on the mountain side, bringing the outside in and resulting I true inside/outside living. An impeccable garden and 30sqm lap pool with waterfall and an undercover BBQ house are the perfect finishing touch. As if that’s not enough, the price includes all furnishings and appliances (all imported and of an extremely high standard) as well as a Ford Explorer 4×4.

Villa in Dominican bedroom

The area where the property is located is in the North of the Dominican Republic.  Very nice residential area.  Where they are developing a new project called Playa Grande with golf course and very expensive villas.  So it is a good area. The villa has a sea view.

Villa in Dominican bedroom

The price is for the car, house and furniture all in.

Villa in Dominican pool

There’s no other house like this – truly a home away from home. Extremely attractive rental income if used as a holiday home.

Villa in Dominican 2

Price $290,000 US

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